Re Iran sanctions, how does forcing Iran to use Euros instead of dollars hurt Iran?

[oblivious]

US sees signs financial sanctions against Iran are biting

WASHINGTON (AFP) - Weary of the drawn-out diplomatic battle to rein in Iran's suspected nuclear weapons program, Washington welcomed signs that unilateral US measures designed to squeeze Tehran financially are starting to bear fruit.

The latest move came Tuesday when the US Treasury Department blacklisted Iran's fifth largest bank, Bank Sepah, for allegedly helping finance the country's illicit weapons programs.

The move bars the state-owned bank from carrying out transactions in US dollars -- a step which has wide implications in an interlocking global financial system heavily dependent on the US currency.

The impact swiftly spread to Europe, where Germany's second biggest bank, Commerzbank, announced Wednesday that it would stop handling dollar transactions for Iranian clients, though it would continue dealings in euros.

http://news.yahoo.com/s/afp/20070110/wl_mideast_afp/irannuclearpolitics

[twilight_sailing]

1. How would it hurt Iran?

Hell, if I were Warren Buffet or Dick Cheney, I'd put my money into Euros too.
Oh, wait. They already did.

[oblivious]

2. I can see Treasury at the next administration meeting: "Ha! We really fixed Iran now."

"They can't trade in US dollars any more."

Everyone else: "You did WHAT???"